JACKSONIAN DEMOCRACY 1825 1850
AGE OF THE COMMON MAN
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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How did Jackson close the National Bank?
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He vetoed it
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He annulled it
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He demolished it
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He didn’t actually close it
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Explanation:
Detailed explanation-1: -On September 10, 1833, Jackson removed all federal funds from the Second Bank of the U.S., redistributing them to various state banks, which were popularly known as “pet banks.” In addition, he announced that deposits to the bank would not be accepted after October 1.
Detailed explanation-2: -Jackson-like Jefferson and Madison before him-thought that the Bank of the United States was unconstitutional. When Congress voted to extend the Second Bank’s charter in 1832, Jackson vetoed the bill. To explain his decision to the nation, Jackson issued this veto message on July 10, 1832.
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